Today mobile phones and tablets have made people aware that they actually can get things done with far less feature complete tools than their desktop office suit. Chromebook will extend that awareness to the desktop, and when that happens nobody will care much if MS Office have x features more than e.g. Google docs and much of the reason people still buy MS-Office will be gone. This is why Microsoft is so scared

Google docs has a long way to go before it even comes close to convincing businesses they don't need Microsoft Office.